Scotiabank analyst Tanya Jakusconek lowered the firm’s price target on Newmont (NEM) to $50 from $52 and keeps a Sector Perform rating on the shares. Heading into Q4 results, the firm expects operators in the Gold & Precious Minerals sector to err on the conservative side regarding input costs for guidance, and expects FY25 operating and capital forecasts to be more conservative than consensus, the analyst tells investors. In the short term, the firm prefers to be positioned in the streamers versus the operators given the consensus cost outlook.
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